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20130318
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on such bubbles, but in january he suggested there may be a role for it even if not the first line of defense. how has your thinking evolved and can you explain why? >> i still believe the following, which is monetary policy is a very blunt instrument. if you are raising interest rates to pop an asset bubble, even if you ar you're sure you o that, you might at same time they throw the economy into recession which kind of defeats the purpose of monetary policy. and therefore i think the first line of defense. i think we have multiple lines of defense, very extensive and sophisticated monitoring at a much higher level and much more comfort hensley and we have had in the past, and we have regulation where we work with other agencies to try to cover all the uncovered areas in the financial system, and in addition we try to use the communication and similar tools to affect the way the financial market response to monetary policy. so we do have some first lines of defense which should be used first. that being said, i think given the problems we have had, globally in the last 15, 20 years that we need t
from bernanke on the future of monetary policy in the united states but mounted a defense using money, connotati t two totals. but ben bernanke distric dismisg critics who say they are devaluing the currency to exports, boost economic growth. it didn't mention any country by @ame, but japan, the yen has tanked. bernanke asked in his remarks does it constitute continued devaluation? no. >> the benefits in the event economies is not created any benefit way by the change in exchange rates. they come from the support of their demands in each country or region. peter: bernanke added it is strengthened by advanced policy helping other countries, help their neighbors because of higher consumer and desist demand for goods from them, from everywhere. liz: have you ever seen these guys like that? liz: thank you so much. we're going to start showing you how currencies are trading right now in response too much of the currency were discussion and the cyprus situation. a real flight to quality and in the u.s. dollar. let's bring in the traders, the cme group and the nymex. what you see is we lost
? >> yeah, i would say that one of the surprises at least for me has been how well the defensive names have done in the uptake we've seen since the first of the year, and the cyclicals have lagged somewhat. i would be doing some rotating, believing the u.s. and global economy are going to be okay, i think some industrial and technology names make some sense. cheryl: all right. what are you avoiding right now? >> utilities still make me nestles. i think the fundamentals are mixed, and the stocks are fairly expensive. it was the place so many people went chasing yield and pushed the price of those stocks up quite a bit. so there's some telecommunications names that are okay, but most of the plain vanilla electric utilities, i think, are fully valued. cheryl: you've got some specific stock picks, and you like a few names, medtronic, that's interesting, mdt, pfizer, v.a.ler rah, northrup grumman. defense, interesting. but pfizer, health care. >> yeah. i think health care among the defensive group is the the most interesting. health care stocks, we think, have reasonable fundamentals and not exp
. investors looking to be a little bit more defensive. even though it looks like wall street thinks there could be a deal of some sort. racing to meet a monday deadline from the ecb to avoid bankruptcy, more of that coming up in a little bit. let's get straight to the floor show. the new york stock exchange, cme group and then willis is in new york, and let's start with the nyse. what is on your mind? pretty optimistic? >> has been a great week. the offing for most of the investors who understand is that the united states equity market actually benefited from the crisis in cyprus. it is counterintuitive, mostly european embassies have taken it further south. we are the benefactor of being a safe haven, thinking that we would never be one to compensate this for the security of a bank. connell: it is kind of the theory or situation in general. we have seen us more than once. even when we have problems, sometimes we benefit. even when our nation -- we were downgraded, and money came in here. we were always the best of the worst. you continue to think that? this mess over in cyprus? >>
Search Results 0 to 3 of about 4